Natural Gas closed slightly lower on Monday and is poised to resume the decline off June's high. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain bearish signalling that additional weakness is possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.
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